I'm aware that that happens in China, but I'm not aware of it happening in the west.
The nearest I guess would be 'time in lieu', but that is usually on a personal basis, where if you need to work on a weekend, or on a holiday, you get given an extra day of holiday.
In the west, many people get an allocation of holiday days each year that they can use whenever it suits them (and to some degree the boss) during the year.